(Alliance News) - Kavango Resources PLC on Tuesday said it has chosen targets at its Kalahari Suture Zone project in Botswana and drilling is set to begin in early October.
Using two airborne electromagnetic surveys of the project, Kavango has identified 77 conductors. After ground follow up survey work, a shortlist of 15 drill targets has been identified and the 3 most prospective will be drilled.
The miner is now preparing for a 1,000 metres drilling programme aimed at finding sulphide mineralisation and a drill contract will shortly be signed. After which, drilling will start in October.
Chief Executive Michael Foster said: "It has been difficult to select just three drill targets from the large number of targets generated from the AEM data and our ground follow-up. The 3 targets that have finally been chosen fit the company's geological model best and appear to be highly compelling. They are relatively shallow and are located precisely where a magmatic sulphide deposit should be found. Preparation is now underway to get the drill rigs on site and the programme started.
"We will announce to the market further details once we have signed the drilling contract, the drill collar positions have been confirmed and the start date established."
Shares in Kavango were up 2.7% at 1.85 pence in London on Tuesday afternoon.
By Anna Farley; annafarley@alliancenews.com
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Kavango Resources (KAV)